You are viewing an article that is not currently active

Northern suburbs lead Darwin’s real estate rebound and beyond

November 27, 2018

Despite several conflicting industry reports, the Darwin property market continues to rebound, according to leading property group, Raine & Horne Darwin, driven by improving enquiry for desirable properties in the city's northern suburbs.

Glenn Grantham, General Manager, Raine & Horne Darwin said, “Quality, well-located and well-presented properties in northern suburbs such as Nightcliff, Leanyer and Tiwi are achieving strong enquiry with as many as 12 groups attending Saturday open for inspections.

“The properties attracting the most attention have very few obstacles for buyers, many of whom are upgraders with growing families.

“In the northern suburbs, we’re almost back to the good old days of four years ago, with quality, desirable properties once again attracting 6-12 groups to home opens.”

To illustrate, Raine & Horne Darwin recently listed a three-bedroom home at 350 Trower Road, Tiwi, just a short drive from Casuarina, the Northern Territory’s biggest shopping centre, restaurants and Charles Darwin University for offers over $450,000.

“Although located on a busy thoroughfare, buyers have recognised this immaculate property is close to the beach. Despite its main road location, we attracted seven groups to the first open home, which is a tremendous opening salvo,” Mr Grantham commented.

A spacious tropical family property for $625,000 only moments to the Nightcliff foreshore, shops, schools, and parks also attracted a relatively large number of buyers to its first open home.

Mr Grantham said, “This beautiful family home located at 19 Grevillea Circuit, Nightcliff is Bryon Bay-esque in that it is very comfortable and casual. The property is generating plenty of enquiry.”

In nearby Leanyer, Mr Grantham has listed a fantastic family home set on a large 839 square metre block at 74 Rosewood Crescent, Leanyer.

“This well-located four-bedroom property is attracting plenty of attention as it is close to almost everything including shops, schools, parklands and Casuarina.”

Looking ahead to 2019, Mr Grantham expects buyer demand to collect more speed, “to the point that by the middle of the year demand will be in harmony with supply”.

“By June or July next year, I expect that we will see a more even Darwin property market activity with the numbers of properties for sale level pegging with buyer demand,” Mr Grantham noted. "It will neither be a buyers' or sellers' market.

“At this point, we will also see more demand for properties across the entirety of Darwin and Palmerston.”

For all your sales and property management needs in Darwin and Palmerston, contact Raine & Horne Darwin on 08 8941 8941.